ARM Holdings plc Receives Consensus Recommendation of “Buy” from Brokerages (NASDAQ:ARMH)
ARM Holdings plc (NASDAQ:ARMH) has been given a consensus recommendation of “Buy” by the twenty-eight ratings firms that are currently covering the stock, American Banking & Market News reports. One research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and twenty have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $47.29.
Shares of ARM Holdings plc (NASDAQ:ARMH) opened at 45.43 on Wednesday. ARM Holdings plc has a 52 week low of $39.69 and a 52 week high of $55.26. The stock has a 50-day moving average of $44.30 and a 200-day moving average of $46.51. The company has a market cap of $21.331 billion and a price-to-earnings ratio of 76.04.
ARM Holdings plc (NASDAQ:ARMH) last released its earnings data on Tuesday, July 22nd. The company reported $0.28 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.26 by $0.02. The company had revenue of $309.60 million for the quarter, compared to the consensus estimate of $306.32 million. During the same quarter last year, the company posted $0.05 earnings per share. ARM Holdings plc’s revenue was up 9.3% compared to the same quarter last year. On average, analysts predict that ARM Holdings plc will post $1.18 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Galvan Research reiterated a “buy” rating on shares of ARM Holdings plc in a research note on Friday. Separately, analysts at Benchmark Co. upgraded shares of ARM Holdings plc from a “hold” rating to a “buy” rating in a research note on Thursday. They now have a $49.00 price target on the stock, up previously from $47.00. Finally, analysts at Numis Securities Ltd reiterated a “buy” rating on shares of ARM Holdings plc in a research note on Monday, August 4th.
ARM Holdings plc (NASDAQ:ARMH) designs microprocessors, physical intellectual property (IP) and related technology and software, and sells development tools.
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